Why mutual fund returns are similar in 1 year and 3 years..?

Dear friend , i am from India and i have seen several sources , and every where MF returns are similar in 1 and 3 years ,,,for example , Birla mid cap fund returned 49.58% in 1 year and same fund returned 49.82 % in 3 years ,,,,we can expect around 150% returns na in 3 years ? please give explanations...OR is it best way to keep our investment upto end of one year and take out ,,and invest in next years further in same fund or other fund ...in this way do we get best returns on money ?

Those returns are ANNUALIZED.... meaning if it says 10% for 1 year and 10% for the 3 year then their saying it has AVERAGED 10% per year.... or got on average 10% each year so if it says:

1year: 5%
3 year 5%

It means it has gotten ON AVERAGE.. 5% EACH year...

Make Sense.....??

there are no correlations between 1 and 3 years -those are only when the last three years were very similar growth years so the returns were similar. Do not depend on such reasoning.
Get your funds in several classes (Stocks, Bonds, Cash(short term monies) Put it in a ratio you feel the most comfort with and leave those classes alone over time. Check them at the end of one year and maybe recalculate to your original ratio's you are shooting for. (example 70% stocks, 25% bonds, 5% cash)
over the long run you will be good.
Better still get one of those Index funds that carry ALL of the stock market and HOLD. by doing that you will get what the entire stock market gives. Just look at the market over the past 4 decades. It rises.